Companies still partying on at year-end but on smaller budgets
By Wei Keng/ Lynda Hong, Channel NewsAsia | Posted: 23 December 2008 2055 hrs

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SINGAPORE: Despite the bleak outlook for the economy, companies are still going ahead with their year-end celebrations.

Party organisers said companies are still partying on, but on reduced budgets. They have cut down spending by about 15 per cent on average.

One event company said firms are doing away with artiste management, preferring to liaise directly with performers instead. It has seen business fall by 15 per cent.

Another company said business has not been adversely affected so far. This is because party budgets had been allocated months before the economy turned.

But it noticed financial sector clients have been more affected than those in the other industries.

The company is offering more value-for-money packages to attract customers. - CNA/vm